SHANGHAI, Nov. 21, 2016 /PRNewswire/ -- 37 Interactive Entertainment recently presented its third quarter financial report ended September 30, 2016. The report shows that 37 Interactive Entertainment had a total revenue of RMB 1.24 billion, up 10.43%, among which the total net profit of shareholders was RMB 266 million, up 93.36%.
The financial report also shows that the total revenue for the 9 months ended September 30, 2016 was RMB 3.69 billion, up 12.12%, among which the total net profit of shareholders was RMB 752 million, up 112.52%. The estimated total net profit of shareholders in 2016 is RMB 950 million to RMB 1.05 billion, an increase of 87.47% to 107.5% on the prior corresponding period.
In 2016, 37 Interactive Entertainment showed its leading position in the gaming market, with several investments and takeovers being successfully completed. At the same time, 37 Interactive Entertainment invested in the rapidly expanding markets of VR and AR technologies, which are known as "The core of the next entertainment generation", taking a step closer to the future of media consumption and younger audiences.
Takeover of Mokun Technology and Zhiming Network. Optimizing Game Development and Publishing
Li Yifei, co-founder and President of 37 Interactive Entertainment has reiterated his intent on future plans: 37 Interactive Entertainment will keep advancing in the gaming market, during which the company's core competitiveness and source of profitability will still rely on publishing award winning games. In July 2016, 37 Interactive Entertainment entered the Chinese top 100 Internet Companies, ranking 18th. With robust growth, it has also made 2nd place in the Chinese browser games market, ranked only second to Tencent. The acquisition of Mokun Technology and Zhiming Network will reinforce an already solid foundation for 37 Interactive Entertainment within the gaming market.
37 Interactive Entertainment announced its purchase of a 68.43% stake of Mokun Technology and 49% stake of Zhiming Network, accounting for RMB 1.11 billion and RMB 255 million respectively.
As an acclaimed Chinese game development company, Mokun Technology has published the 3D mobile game - Quanmingwushuang, which stayed in 1st place in China's Mobile Games Top Grossing Rank for several months. With Mokun Technology's experienced and technically confident development team, 37 Interactive Entertainment will expand further in developing and publishing high quality mobile games.
The acquisition of Zhiming Network will benefit 37 Interactive Entertainment's development in publishing games significantly. The long-term cooperation with Tencent and its own unique business strategies also help pave a road for 37 Interactive Entertainment's own promotion with mobile games. The competence of publishing games and ability to turn traffic into platform users will be strengthened after Zhiming Network's advantages in both browser and mobile games are fully incorporated.
Invest in Tianshe Culture & Media: A leading innovation in media and games
37 Interactive Entertainment has been investing in VR markets both domestically and internationally since the beginning of 2016. In July 2016, after its investment in Archiact, a Canadian VR game studio that is developing rapidly in the international market, 37 Interactive Entertainment completed another investment in Tianshe Culture & Media, a well-established domestic VR service provider. Both companies have their own unique advantages, which will enable a larger coverage of games, social interaction and business applications and other offline services for 37 Interactive Entertainment.
37 Interactive Entertainment aims to put forward the concept of integrating various forms of entertainment. Strategic cooperation with Mangguo Interactive Entertainment, FilmkoFilm, SOUTHERN PICTURES CO.,LTD., also provides a larger potential for publishing games and films in future matured VR and entertainment markets. Entertainment integration will be one of the leading trends in the near future.
The thrilling movie Hide and Seek invested in by 37 Interactive Entertainment, starring Wallace Huo, Amanda Qin and several other famous film stars, is a new project on the integration of films and VR technology. Tianshe Culture & Media has already launched a project on developing VR products based on the movie Hide and Seek. Audiences can experience the movie for free during its release time but after that, they may still enjoy it by paying through VR services. Such technology-based, plot-enriched and attractive VR shorts will be popular among its audiences and promising in the future entertainment market.
37 Interactive Entertainment will go beyond just VR game development. It will expand into and integrate business values into wider VR entertainment. It will also extend into the future of VR technology development.
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SOURCE 37 Interactive Entertainment